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No More Billionaires in Iceland

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No More Billionaires in Iceland

Iceland is no longer home to the superrich with billionaires having either left the country or lost their assets.

Photo: Páll Kjartansson/Iceland Review.

German newspaper Frankfurter Allgemeine Zeitung reports that in 2008 there were six billionaires living in Iceland, five of whom have lost the majority or all of their assets such as former Landsbanki chair, Björgólfur Guðmundsson, according to ruv.is.

The only Icelander who can still be defined as a billionaire is Björgólfur’s son, former majority owner of Landsbanki, Björgólfur Thor Björgólfsson, who lives in the U.K.